Housing Prices Rise, but Not for Everyone

By

S. Mitra Kalita And

Nick Timiraos

Updated June 20, 2012 1:10 p.m. ET

As more U.S. housing markets improve, an adage about what matters in real estate is proving true: location, location, location.

While property markets across the country rose together during the housing boom and fell together during the crash, new data analyzed by real-estate firm Zillow Inc. for The Wall Street Journal show that markets are exiting the downturn at different speeds.